Tag: war

AB Bernstein downgraded technology stocks to “market weight” from “modest overweight,” citing potential headwinds including high valuations and trade tensions. In the meantime, some tech names with losses as much as 50 percent over the past six months have become very attractive, said a team of tech analysts at Bernstein, who recommend picking up cheap tech stocks in 2019. “Tech has become notably more expensive on a cap weighted basis over the last two years, the percentage of tech companies be

In the meantime, some tech names with losses as much as 50 percent over the past six months have become very attractive, said a team of tech analysts at Bernstein, who recommend picking up cheap tech stocks in 2019.

“Tech has become notably more expensive on a cap weighted basis over the last two years, the percentage of tech companies beating consensus revenues dramatically slowed over the last two quarters,” Bernstein’s Toni Sacconaghi and Ann Larson said in a note to clients on Tuesday.

“We also worry about the risk of an escalating trade war, which could trigger increased prices – resulting in negative demand elasticity – for consumer technology offerings as well as supply chain disruptions,” they added.

The arrest of Huawei Technologies’ CFO, Meng Wanzhou, put markets on edge. At the time, it was seen as the latest skirmish in the trade war between the United States and China. But it’s actually the latest entry in an ongoing high-tech struggle between the U.S. and the Chinese smartphone giant over national security.

The arrest of Huawei Technologies’ CFO, Meng Wanzhou, put markets on edge. At the time, it was seen as the latest skirmish in the trade war between the United States and China. But it’s actually the latest entry in an ongoing high-tech struggle between the U.S. and the Chinese smartphone giant over national security.

Markets slump on fears of a global slowdown — Four experts on what to watch next 14 Hours Ago | 03:17Another sharp sell-off has investors reeling on Friday, as the Dow and S&P 500 both dove back into correction territory. The downturn has put more than half of S&P 500 stocks in a bear market, which means they are down more than 20 percent off their recent respective highs, and has put the index on track for its worst quarter since 2011. Slowing economic growth, trade war fears and a Fed meeting

Markets slump on fears of a global slowdown — Four experts on what to watch next 14 Hours Ago | 03:17

Another sharp sell-off has investors reeling on Friday, as the Dow and S&P 500 both dove back into correction territory. The downturn has put more than half of S&P 500 stocks in a bear market, which means they are down more than 20 percent off their recent respective highs, and has put the index on track for its worst quarter since 2011.

Slowing economic growth, trade war fears and a Fed meeting will be at the top of investors’ minds next week.

“Whatever your views are on Macau, the U.S. operators trade at a premium to the Chinese operators. While that has always been the case, I think in light of the trade tensions, that doesn’t make a lot of sense right now,” he said. “At the very least, the U.S. operation should trade at a discount.”

Shares of both companies fell to their lows of the day on Chanos’ comments, aired on CNBC. Las Vegas Sands closed 0.6 percent lower, and Wynn declined 1.2 percent.

In a rare break with President Donald Trump, the Senate voted on Wednesday to move ahead with a resolution to end U.S. military support for the Saudi Arabian-led coalition in the war in Yemen and lawmakers vowed to push for sanctions against the kingdom in the new year. Eleven of Trump’s fellow Republicans joined Democrats to provide the 60 votes needed to advance the war powers resolution in the Republican-led chamber. The nearly unprecedented break the 11 Republicans made from Trump was largel

In a rare break with President Donald Trump, the Senate voted on Wednesday to move ahead with a resolution to end U.S. military support for the Saudi Arabian-led coalition in the war in Yemen and lawmakers vowed to push for sanctions against the kingdom in the new year.

Eleven of Trump’s fellow Republicans joined Democrats to provide the 60 votes needed to advance the war powers resolution in the Republican-led chamber. The vote paved the way for debate and a vote on U.S. involvement in a conflict that has led to the deaths of tens of thousands of civilians, many of them young children and left millions more at risk of starvation and death by disease.

The nearly unprecedented break the 11 Republicans made from Trump was largely symbolic because the House of Representatives is not expected to take the matter up this year. Trump has threatened a veto.

But backers of the resolution said it sent an important message that lawmakers are unhappy with the humanitarian disaster in Yemen, and angry about the lack of a strong U.S. response to the killing of journalist Jamal Khashoggi at a Saudi consulate in Turkey.

Republican and Democratic lawmakers also vowed to keep pushing after the new Congress take office in January for further tough action against Saudi Arabia, including legislation to impose human rights sanctions and opposition to weapons sales.

“If you want to buy our weapons, there are certain things you have to accept. How you use them matters,” Republican Senator Lindsey Graham told a news conference.

“The individual, the crown prince, is so toxic, so tainted, so flawed, that I can’t ever see myself doing business with Saudi Arabia unless there’s a change there,” said Graham, generally a close Trump ally in the Senate.

The trade war between the United States and China that has roiled global stock markets and raised fears of an economic slowdown is now weighing on small businesses, according to the latest CNBC|SurveyMonkey Small Business Survey. One in five small-business owners do business with China, most by importing Chinese goods and services to the United States. For many, their bottom lines take a hit every time new tariffs are announced. These 20 percent of small-business owners are driving much of the p

The trade war between the United States and China that has roiled global stock markets and raised fears of an economic slowdown is now weighing on small businesses, according to the latest CNBC|SurveyMonkey Small Business Survey.

One in five small-business owners do business with China, most by importing Chinese goods and services to the United States. For many, their bottom lines take a hit every time new tariffs are announced.

These 20 percent of small-business owners are driving much of the pessimism regarding trade, as they are about twice as likely as everyone else (47 percent vs. 24 percent) to expect their businesses to suffer from trade policy changes in the next 12 months.

A Chinese state-run newspaper lashed out at Canada on Sunday over the arrest of a top Huawei executive, saying it is bowing to pressure from the United States and likening her treatment to a “show trial” aimed at humiliating China for challenging the U.S. in global technology leadership. Justice authorities in Canada arrested Meng Wanzhou, Huawei’s chief financial officer and daughter of company founder Ren Zhengfei, on Dec. 1 in Vancouver, reportedly over alleged violations of U.S. sanctions on

A Chinese state-run newspaper lashed out at Canada on Sunday over the arrest of a top Huawei executive, saying it is bowing to pressure from the United States and likening her treatment to a “show trial” aimed at humiliating China for challenging the U.S. in global technology leadership.

Justice authorities in Canada arrested Meng Wanzhou, Huawei’s chief financial officer and daughter of company founder Ren Zhengfei, on Dec. 1 in Vancouver, reportedly over alleged violations of U.S. sanctions on Iran. Meng faces possible extradition to the U.S.

The detention comes within the broader context of the U.S.-China trade war and just as President Donald Trump and his Chinese counterpart Xi Jinping agreed to a 90-day truce at the G-20 Summit in Buenos Aires.

The English-language China Daily, in an editorial published Sunday on its website, accused Canada of detaining Meng for the sake of its relations with the U.S. The paper stressed that Washington maintains close intelligence ties with Ottawa under the “Five Eyes” sharing arrangement that also includes Britain, Australia and New Zealand.

U.S. Trade Representative Robert Lighthizer said on Sunday he considers March 1 “a hard deadline” to reach a deal on trade with China, and that new tariffs will be imposed otherwise. “As far as I am concerned it is a hard deadline. When I talk to the president of the United States he is not talking about going beyond March,” Lighthizer said on the CBS show “Face the Nation,” referring to President Donald Trump’s recent decision to delay tariff imposition until March 1 while talks proceed. “The w

U.S. Trade Representative Robert Lighthizer said on Sunday he considers March 1 “a hard deadline” to reach a deal on trade with China, and that new tariffs will be imposed otherwise.

“As far as I am concerned it is a hard deadline. When I talk to the president of the United States he is not talking about going beyond March,” Lighthizer said on the CBS show “Face the Nation,” referring to President Donald Trump’s recent decision to delay tariff imposition until March 1 while talks proceed.

“The way this is set up is that at the end of 90 days, these tariffs will be raised,” said Lighthizer, appearing to tamp down expectations that the negotiation period could be extended.

Gordon, a senior portfolio manager on the firm’s technical asset allocation strategies team, blames uncertainty surrounding the U.S.-China trade war and Federal Reserve policy for the violent market swings. “The first and fundamental question: Is this a correction or is this the start of the bear market? While you can certainly see a path that could get us to a bear market, I think it’s more of a messy correction,” he told CNBC’s “Trading Nation” on Friday. He believes the correction will span a

“The first and fundamental question: Is this a correction or is this the start of the bear market? While you can certainly see a path that could get us to a bear market, I think it’s more of a messy correction,” he told CNBC’s “Trading Nation” on Friday. “We could go a little deeper.”

Gordon’s comments came as the major indexes got hammered. The Dow, S&P 500 and Nasdaq saw their worst weekly performance since last March. The S&P closed back in correction territory, down more than 10 percent from its September 21 all-time high.

He believes the correction will span about two to four months, citing the end of the 90-day trade war ceasefire between the U.S. and China as an important marker.

Trade has been Gordon’s major risk factor for U.S. stocks for much of the year. In late June on “Trading Nation,” he placed the U.S.-China tariff threat as a major economic risk in the second half of 2018. And, that issue has played a big role in the painful pullback.

“You could have full on global growth slowing as a result of a complete breakdown in the trade and tariff negotiations,” he said, even though it’s not his base case.

Contrary to what some investors might believe, the U.S.-China trade dispute is not really about trade, CNBC’s Jim Cramer said Friday as stocks tumbled on rising tensions between the two countries and weaker-than-expected U.S. jobs data. “The trade war with China is not about trade,” Cramer said. The trade war is about who gets to be a global superpower.” In fact, White House hardliners actually accept that the trade dispute will hurt public companies’ earnings, the “Mad Money” host said. “The tr

Contrary to what some investors might believe, the U.S.-China trade dispute is not really about trade, CNBC’s Jim Cramer said Friday as stocks tumbled on rising tensions between the two countries and weaker-than-expected U.S. jobs data.

“The trade war with China is not about trade,” Cramer said. “Sure, the Chinese government has all kinds of unsavory practices when it comes to trade — and a lot of other things — but that’s not really the point. The trade war is about who gets to be a global superpower.”

Many on Wall Street worried that U.S.-China tensions would escalate on Wednesday’s news that the global chief financial officer of Chinese telecom giant Huawei was arrested in Canada over the weekend, on the same day that President Donald Trump and Chinese President Xi Jinping reportedly struck a 90-day tariff truce.

But at the end of the day, this fight goes beyond helping U.S. companies, Cramer said. In fact, White House hardliners actually accept that the trade dispute will hurt public companies’ earnings, the “Mad Money” host said.

“The real point is, wherever you stand on this issue, it’s bigger than corporate earnings. It’s bigger than the economy,” he said. “The trade war with China is about global hegemony — who gets to rule the world — and that’s why it’s so darned intractable, because these are pretty high stakes.”